FMI Product Information Management Market Expected to | Page 4

Product Information Management Market
Product Information Management Market Size, Analysis, and Forecast Report 2017-2027
The need for creating a central repository in a business to manage important information about products
is boosting up demand for product information management software market. Product information
management software is helpful in keeping the stakeholders and customers updated about any change in
the product. Product information management software coordinates the change in product information
across all channels of communication. This helps in keeping a consistent and up-to-date information
across business’s entire ecosystem.
Product Information Management Market: Drivers and Restraints
Rapid growth of e-commerce is one of the important drivers for product information management
market. E-commerce industry has given rise to multichannel retailing, where different channels require
different versions of product information. Here, product information management becomes the single
source of information management which helps in maintaining and syndicating product information to
different sales channels as per the requirements.
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One of the major challenges in product information management market is high initial investment. A
product information management requires a significant amount of investment of the organization’s
financial and human resources because of which there could be reduced ROI. Further, diversified
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